Wednesday, November 26, 2008

Bernanke in the New Yorker

Ben Bernanke, chairman of the Board of Governo...Image via WikipediaOver thanksgiving, I'm going to keep posting, so if you have time to kill, check out Kenny K. I plan to do a ton of relaxing and reading, so hopefully I can unearth some good stuff.

First of is a great article from the New Yorker on Ben Bernanke, Fed Chairman. It highlights his mistakes and also the efforts he's been making to keep the finance world together. He really screwed the pooch for a long time with his loose money and belief that you should just let bubbles build, then try to clean up the mess. However, he has worked very hard over the last 3 months. We wouldn't be in the situation we are in now without him and his Greenspan, but at least he's trying to clean it up.

My only regret with the article, which is excellent, is that they didn't use his famous quote about fighting deflation by (paraphrasing) -"dropping dollar bills out of helicopters..." And you wonder why I own gold?
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